Coalition pledges pension reform

The government announced more pensions reform in the Queen's Speech.

The Coalition has announced its last legislative programme of this parliament. The measures announced in the Queen's Speech included a charge on plastic bags in supermarkets, and some tweaks to childcare legislation and the planning system.

The speech also contained two pension reforms. As announced in the Budget, savers will have greater freedom on how they can manage their pension pots, while the government is also legislating for the introduction ofDutch-style Collective Defined Contribution (CDC) funds, where employees across a company pool their savings and invest them together, rather than saving in an individual pot.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.